2007 Interactive Registration Document - Renault
2007 Interactive Registration Document - Renault
2007 Interactive Registration Document - Renault
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07 RENAULT<br />
FINANCIAL STATEMENTS<br />
SA PARENT COMPANY FINANCIAL STATEMENTS<br />
7.4.2.1 OTHER COMMITMENTS AND CONTINGENCIES<br />
Off-balance sheet commitments are as follows:<br />
(€ million) TOTAL<br />
<strong>2007</strong> 2006<br />
CONCERNING<br />
RELATED COMPANIES TOTAL<br />
CONCERNING<br />
RELATED COMPANIES<br />
Commitments received<br />
Guarantees and deposits 1 1<br />
Unused credit lines 4,677 205 4,665 142<br />
TOTAL 4,677 205 4,666 143<br />
Commitments given<br />
Guarantees and deposits 453 450 453 450<br />
Unused credit lines 141 141 165 165<br />
TOTAL 594 591 618 615<br />
Financial commitments<br />
Forward currency sales 3,149 3,149 2,587 2,587<br />
Forward currency purchases 3,174 3,174 2,626 2,626<br />
Currency swaps: loan 1,367 617 1,868 1,118<br />
Currency swaps: borrowing 1,120 513 1,569 931<br />
Interest rate swaps 2,569 2,282 2,132 1,836<br />
As part of the management of RCI Banque’s major risk ratio, <strong>Renault</strong> SA has<br />
provided Cogera (a fully-owned RCI Banque subsidiary) with a €450 million credit<br />
line since December 2004. For purposes of compliance with French Banking<br />
Commission regulations, <strong>Renault</strong> SA will only be reimbursed by Cogera to the<br />
extent of the amounts Cogera recovers in repayment of its fi nancing for <strong>Renault</strong><br />
Retail Group’s inventories. Furthermore, to guarantee payment by <strong>Renault</strong> Retail<br />
Group to Cogera of the receivables resulting from this fi nancing arrangement,<br />
<strong>Renault</strong> SA’s receivable related to the credit line is pledged in favour of Cogera.<br />
The value of this pledge at December 31, <strong>2007</strong> was €450 million.<br />
The forward sales and swaps undertaken by <strong>Renault</strong> SA are described above<br />
(note 18.A - Management of exchange and interest rate risk).<br />
< TABLE OF CONTENTS ><br />
7.4.2.20 CASH FLOW<br />
Cash fl ow is determined as follows:<br />
(€ million) <strong>2007</strong> 2006<br />
Net income 1,096 1,941<br />
Increases to provisions and deferred charges<br />
Net increase to long-term provisions for risks and<br />
5 5<br />
liabilities (36) (9)<br />
Transfer of financial charges (1) (4)<br />
TOTAL 1,064 1,933<br />
7.4.2.21 WORKFORCE<br />
<strong>Renault</strong> SA has no employees.<br />
7.4.2.22 REMUNERATION OF DIRECTORS<br />
AND EXECUTIVE MANAGERS<br />
Total remuneration to members of the Board of Directors was less than<br />
€1 million.<br />
252 <strong>Registration</strong> <strong>Document</strong> <strong>Renault</strong> <strong>2007</strong><br />
Find out more at www.renault.com<br />
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